Why do we pay tax on interest on money in the bank?

Why do tax payers pay tax on interest payments on their savings? The value of your savings never seems to keep up with the real inflation. When fuel costs, energy bills are up into double figures, way above the mythical official rate of inflation, we make a loss. If our money is worth less even with interest added, we are in deficit. If a company makes a loss it does not pay tax on that loss, but we pay tax on our loss. Why?

Category:

News & Politics

Tags:

• interest
• inflation
• tax
• money
• worth
• less
• savings
• bank
• investments

[boyfletch71]

It might be a good idea to look up the tax law. I can tell you there is no written law to govern tax it is just paid. Have you ever wondered why they take tax out of your wages at source. They are basically robbing you blind. If they had to rely on people paying there own tax we could hold the economy at ransome and tell them we have had enough of this facist society that the politicians call a DEMOCRACY.

[boyfletch71]

This subject is the biggest scam in the history of man kind.

[truthseeker32]

Good point!! The monetary system sucks because of the Federal Reserve system. They have way too much power to be a private company. I don't know what they call the Federal Reserve in the UK, but I am quite sure it is set up the exact way it is set up here in America.

[fractalmoon]

this is a good point. nice video mate.

[StealthModeLondon]

Love it

[peterjohnglynn]

A1. Great presentation ftw!